Pakistan Central Bank Hikes Main Policy Rate To 13.75%
May 25, 2022 ·
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Description
Pakistan’s central bank raised its benchmark interest rate by 150 basis points to 13.75%, the second hike in less than two months, as the South Asian nation grapples with a...
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Pakistan’s central bank raised its benchmark interest rate by 150 basis points to 13.75%, the second hike in less than two months, as the South Asian nation grapples with a sinking economy.
The State Bank of Pakistan says the action, together with much needed fiscal consolidation, should help moderate demand to a more sustainable pace while keeping inflation expectations anchored and containing risks to external stability.
The country is going through economic turmoil, including high inflation, reserves declining to as low as less than two months’ of imports and a fast-weakening currency.
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The State Bank of Pakistan says the action, together with much needed fiscal consolidation, should help moderate demand to a more sustainable pace while keeping inflation expectations anchored and containing risks to external stability.
The country is going through economic turmoil, including high inflation, reserves declining to as low as less than two months’ of imports and a fast-weakening currency.
Information
| Author | Africa Business Radio |
| Organization | Africa Business Radio |
| Website | - |
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